An introduction to the field of accounting with emphasis on corporate financial statements. Financial statements are viewed as a communication device conveying the financial health of a business to interested parties. The objective of this first course is to teach students to read, analyze, and interpret these financial statements. The emphasis is on developing critical thinking and problem-solving skills using accounting concepts. Students are exposed to the steps used by accountants to record, measure, and process financial information. Cash flow analysis is contrasted with the accrual basis of accounting
An introduction to the preparation, uses, and analysis of common management accounting information. Topics include cost-volume-profit analysis, capital budgeting and present value applications, cash budgets, financial statement analysis, taxes, and management decisions, plus a brief introduction to modern cost accounting, with emphasis on activity-based costing systems. The development of problem-solving and analytical abilities is given primary importance throughout the course. Accounting majors must pass this class with a minimum grade of "C". Prerequisites: MATH 140, MATH 141, or MATH 151 with a minimum grade of “C-“
Rigorous and comprehensive study of the means by which generally accepted accounting principles are used to generate the publicly-available information disseminated by modern U.S. corporations. Theoretical and practical criticisms and alternatives to current accounting practice are also considered, as is the idea of accounting as an information feedback system that allows individuals and organizations to reshape their environment. In addition, students are exposed to the realities of the economic and political climate surrounding the accounting standard-setting process. Accounting majors must pass this class with a minimum grade of "C."Prerequisites: MATH 140, MATH 141, or MATH 151 with a minimum grade of “C-“
A dual-purpose course which explores the theoretical view of information systems, while at the same time exposing the student to actual off-the-shelf accounting software. The course alternates between textbook readings and discussions and several case studies which require the student to create a computerized accounting system for a fictional client. After completing the course, the student is expected to possess the ability to computerize a manual accounting system, to understand system theory underpinnings of accounting information systems, and to have developed a view of the implications of expected technological advances on management information systems in general and accounting systems in particular. Prerequisite: BUAD 220 or CIS 120. Prerequisite or corequisite:ACC 301.
An introduction to the federal income tax system. Emphasis is on the ways in which the U.S. income tax laws influence personal and business behavior and decision making, and how the tax laws can be used to accomplish various economic and social objectives. Topics covered include an introduction to tax research, principles of income and deduction, tax liability, and tax credits. Individual taxation is the primary focus, but the basic principles apply to most forms of business organization as well. Accounting majors must pass this class with a minimum grade of "C." Prerequisite: minimum sophomore standing.
An introduction to the field of auditing including an examination of the standards and methods used by certified professional accountants when attesting to the fairness of corporate financial statements. Specific topics include the accounting professional code of ethics, generally accepted auditing standards (GAAS), internal controls, sampling techniques, audit planning and specific audit procedures. Government policies concerning auditors’ responsibilities for fraud detection are also discussed. Prerequisite: ACC 302.
An overview of the financial accounting theory, practice, problems, and reporting requirements for various economic entities. These include partnerships, foreign branches and subsidiaries, state and local governments, colleges and universities, hospitals, voluntary organizations, and the modern parent/subsidiary corporate structure. The approach taken in this course is that there are common information needs which each of these entities must satisfy. While the specific approach used to satisfy this need is dependent on a variety of factors, the common thread is that useful information is being generated for the consumers of that information. Prerequisite: ACC 302.